Posted: December 08, 2023
Rapid City
Agenda Item Summary

Agenda Item Ref. #: LF121323-08(b)

Agenda Item Title:

Approve CB Rapid City Housing Limited Partnership (“Assignee”) Contract Amendment in the amount of $50,000.00, an increase from $200,000.00 to $250,000.00, and Amended Indenture of Restrictive Covenants

Origination Group:
Legal & Finance Committee
Origination Meeting Date:
12/13/2023
City Council First Reading Date:
12/18/2023
Staff Contact:
Michelle Schuelke
Location:
Circle of Friends Community Room
Agenda Item Summary:
Requesting approval for the Mayor and Finance Director to sign two copies of the FY22 Community Development Block Grant Amendment to Subrecipient Contract for CB Rapid City Housing Limited Partnership (“Assignee”) and one copy of the Amended Indenture of Restrictive Covenants

Funding Source & Fiscal Impact (if applicable):

Funding Cost Center
FY23 CDBG Funds $50,000.00

Recommendations:

Origination Recommendation Action:
Approve
Origination Recommendation Notes:
Approval for the Mayor and Finance Director to sign two copies of the FY22 Community Development Block Grant Amendment to Subrecipient Contract for CB Rapid City Housing Limited Partnership (“Assignee”) and one copy of the Amended Indenture of Restrictive Covenants

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